Jump to content
Complete France Forum

Will the pound continue to plummet?


NormanH

Recommended Posts

I see that over the last 5 years the average is 1,3005  and that it went above 1,5 very briefly in 2006.

Over the last two years the average is 1,1420.

Before 1999: (the first figure is francs) so that keeps the average down over 15 years

1995

7.87 1.19
1996

7.98 1.21
1997

9.56 1.45
1998

9.77 1.49
I bought in 1995, so have always remembered that as the 'reference' value.

Perhaps other people have the same idea, that the 'real' value of the pound is what it was when they bought their property?

Link to comment
Share on other sites

Pommier, it is certainly my belief that it was 1.60 or so on changeover.  It was around 1.50 when we bought in 2004.  I have an HIFX currency converter which I got as a freebie at a French property exhibition when the Euro was first around.  It starts at 1.70 and goes down to 1.30![:D]

I budgeted before moving on a worst case of 1.30 - how wrong can one be?  I was daft really because I certainly remember a time when one got 7 francs to the £.  Still, we've managed OK.

Link to comment
Share on other sites

We'd thought about moving to France about 6 or 7 years before we did, but at that time (about 1996ish) it was 7 francs to the pound and just wasn't possible. At that time we looked back wistfully to the days of 12 francs to the pound when holidays were just so cheap!
Link to comment
Share on other sites

[quote user="greyman"]Not historically http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-gbp.en.html. Look at the 10y EUR vs GBP graph. No guide to the future of course. [/quote]

A graph is so much more graphic [:D]

When we bought in 2004 it was 1.5e to £, and dare I say it the pound has been devaluing for a little while, and possibly now the UK could improve(look at Jag's fortunes); whilst I'm not holding my breath I think the Euro has its worse days still to come, who's next, Brussels?.

Link to comment
Share on other sites

I bought in 2004.

My reference value is parity, it very nearly got there at the end of 2008 at which time I had to spend a lot of UK £'s on materials.

Once my income in Euros starts to come in and especially when it peaks I would be better off if the pound were to drop again so in the long term for me at least, parity will be palateable but not too soon please!

Link to comment
Share on other sites

  • 1 month later...
[quote user="cooperlola"]

Pommier, it is certainly my belief that it was 1.60 or so on changeover. 

[/quote]

Definitely so - we were all given the example of miles / km being the same calculation as £/€ - 1.60€ to £.  Pity it cahnged rally - I could cope with that calculation!!!

Link to comment
Share on other sites

[quote user="Pommier"]We'd thought about moving to France about 6 or 7 years before we did, but at that time (about 1996ish) it was 7 francs to the pound and just wasn't possible. At that time we looked back wistfully to the days of 12 francs to the pound when holidays were just so cheap![/quote]

The year 1996 was the nadir of french traditional old rural property prices. The local sellers in Deux-Sèvres during the winter of 1996 expected armageddon as more likely than an erstwhile UK buyer. So conventional transfer pricing with current exchange rates may not be the best guide in acquiring a residential capital asset. Such properties have enjoyed a steady appreciation in euro terms for the last dozen years far outweighing any short term currency considerations.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...